HSBC said it will cut around 5,000 jobs as part of its plan to cut costs, as the bank reported flat first-half revenue of $35.7 billion. CEO Stuart Gulliver also said the bank could reduce head count in its retail division by 25,000.
HSBC Sells 195 U.S. Branches for $1 Billion
BY ANUPREETA DAS
HSBC Holdings PLC, which has been scaling back its U.S. operations, struck a deal to sell 195 retail banking branches to First Niagara Financial Group Inc. for $1 billion in cash, the companies said Sunday.
The branches, which have $15 billion in deposits, are being sold at a 6.67% premium to the value of the deposits. The branches are located mainly in upstate New York. HSBC said in May it would cut costs and ...
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